Metallurgy news
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Trump still intends to impose tariffs on steel importsThe head of US steelmaker Nucor Corp said he received assurances from the White House that President Donald Trump is still determined to impose tariffs on imports of steel products, which include pipe and steel sheet. Despite repeated delays, the decision remains in effect. Meanwhile, American…
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More than 2,000 layoffs expected in South Africa's mining sectorAtlatsa Resources has announced its intention to close its Bokoni platinum mine in Limpopo province, South Africa. The closure is part of a debt write-off and restructuring deal with joint venture partner Anglo American Platinum (Amplats), the world's largest producer of platinum group metals. The…
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Iron Ore Marks Biggest Monthly Recession Since May 2016Iron ore futures in China, the largest consumer of the raw material, posted the largest monthly decline since May 2016 amid growing concerns over demand as government inspections cut steel production when inventories were adequate. The best-selling iron ore contract on the Dalian Commodity Exchange…
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Gazprom to build small LNG plantsThe Russian gas giant has set up a company to build small LNG plants. This could be one of the solutions that will allow Gazprom to transport raw materials from remote gas fields. Sometimes the raw materials are located in hard-to-reach areas, where the construction of a gas pipeline may be…
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US steel imports to grow by 16% in 2017The latest trade statistics released by the US suggest that the country's imports of finished steel products are likely to increase by 16% throughout 2017. Among the various steel products, oil pipes and steel sheets are likely to report the biggest jump in imports. According to the data, imports…
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China bought tons of North Korean coalNorth Korea's major trading partner imported 1.64 million tonnes of coal in August, despite an alleged embargo imposed by Beijing to comply with UN sanctions aimed at ending Pyongyang's nuclear ambitions. According to CNN, while China announced in February that it would cut off all coal shipments…
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Copper prices influenced by large supplyCopper prices fluctuate on the London Metal Exchange. However, it could be the fourth week that copper ends with a decline in prices. So far, metal on the LME in 3-month deliveries is worth $ 6,423.50 per tonne, but earlier it lost 0.7% to $ 6,394.00 per tonne. There is a large stock of this metal…
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Polish coal exporter forced to import raw materials from the USAA domestic coal shortage has forced Poland's largest coal exporter, Weglokoks, to order shipment from the United States so that it can fulfill contracts with foreign buyers. Weglokoks said Wednesday that it plans to resell imported US coal abroad, mainly to the Czech Republic, Slovakia, Hungary…
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China to revoke over 1,000 iron ore licenses amid tackling pollutionIron ore prices resumed on Wednesday after China announced that it would revoke about a third of its iron ore licenses, mostly to small, outdated enterprises. Lei Pingxi, chief engineer of the China Metallurgical Association of Mines, said the measure would affect about 1,000 small mines, most of…
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Competition for oil and gas fields intensifies in SyriaThe Russians are strengthening their positions in Syria on the left bank of the Euphrates. This is technically related to the attack on IS, but many experts believe it is a rivalry mainly between US-backed forces and a coalition of Russia and government forces to develop the Euphrates Valley and…
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